Demand for homes is forecasted to be 3.5 times greater than supply in the next 12 months.
The gap between those who say are will “definitely sell” dwellings and those who will “definitely buy” is the largest since tracking started in October 2010 in Horizon Research market forecasting for Property Press.
2.5% of home owners say they will definitely sell in the next 12 months.
8.9% of respondents to a nationwide survey say they will definitely buy.
This lifts the national dwelling buying intention back to 2015 and 2016 levels.
Definite supply is decreasing at about the same rate as definite demand is increasing.
Current definite supply is only 28% of demand (assuming one property is offered for sale for each respondent who is “definitely going to sell” and each “definite” buyer represents one individual property).
The national demand estimate for the next 12 months is 139,800 dwellings – up from 88,800 in February 2017. The gap between numbers of definite buyers and sellers is equivalent to a national nett shortage of around 100,500 dwellings to meet demand from those definitely intending to buy.
This up from 48,700 reported in February 2017 and 84,800 in June 2016.